Orion Portfolio Solutions LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Orion Portfolio Solutions LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,013.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,032 shares of the semiconductor manufacturer’s stock after acquiring an additional 178,433 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Broadcom were worth $33,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Tsfg LLC raised its stake in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Cedar Wealth Management LLC boosted its holdings in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 216 shares in the last quarter. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Broadcom during the third quarter worth about $42,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Mizuho increased their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley lifted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Broadcom in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.96.

Broadcom Trading Up 5.3 %

Shares of Broadcom stock opened at $179.53 on Friday. The firm has a 50-day simple moving average of $172.87 and a two-hundred day simple moving average of $162.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $90.36 and a fifty-two week high of $186.42. The company has a market cap of $838.51 billion, a P/E ratio of 155.98, a price-to-earnings-growth ratio of 2.01 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.